Platinum’s rare nature gives it additional value and appeal

Huw Daniel is the CEO of Platinum Guild International, overseeing market development activities in China, Japan, India and the USA, on behalf of the platinum producers of South Africa. Before taking up this role in 2015, Huw ran PGI USA for 12 years...

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Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

06 september 2021

There is a significant need for smart and technological financial solutions in the diamond industry

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30 august 2021

The future for synthetics lies in that it has become possible to grow a stone you want and make what you want out of it

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23 august 2021

De Beers’ GemFair ropes in more than 160 Sierra Leone artisanal miners

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16 august 2021

Diamcor receives C$1,2 mln under amended loan financing

27 august 2019

news_10082018_diamcor.jpgDiamcor Mining has received subscriptions under the amended loan financing for aggregate gross proceeds of about C$1,2 million.  
The previously announced initial $500,000 term loan has also been amended and is included in the proceeds, it said.  
Proceeds from the financing will be used for general corporate purposes, the deployment of additional operational equipment to support increased processing volumes, the continued advancement of the work programmes currently underway at its Krone-Endora at Venetia project, in South Africa.
The funds will also provide Diamcor with additional working capital to offset the time frames associated with the tendering and sale of rough diamonds in Antwerp. 
Term loans under the financing will be unsecured, carry an annual interest rate of 7% payable at maturity and the company will issue 1,425,600 common shares in its authorized share capital, along with 712,800 share purchase warrants to the lenders.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished